Vir Biotechnology, Inc. (NASDAQ:VIR) Stock Has Consensus Price Target of $21.57

Vir Biotechnology, Inc. (NASDAQ:VIR) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $21.57.

Several research analysts have issued reports on VIR shares. Morgan Stanley set a $25.00 price target on Vir Biotechnology in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vir Biotechnology in a research note on Wednesday, July 8th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Vir Biotechnology in a research note on Monday, September 28th. HC Wainwright restated a “buy” rating on shares of Vir Biotechnology in a report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Vir Biotechnology from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th.

Hedge Funds Weigh In On Vir Biotechnology

A number of large investors have recently made changes to their positions in VIR. BlackRock Inc. bought a new stake in Vir Biotechnology in the second quarter worth $210,712,000. ARCH Venture Management LLC bought a new stake in shares of Vir Biotechnology during the 2nd quarter worth about $129,353,521. ADAR1 Capital Management LLC bought a new stake in shares of Vir Biotechnology during the 1st quarter worth about $24,593,000. Pictet Asset Management Holding SA increased its holdings in shares of Vir Biotechnology by 10,878.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,480,828 shares of the company’s stock valued at $13,268,000 after acquiring an additional 1,467,340 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Vir Biotechnology during the second quarter worth approximately $11,642,000. Institutional investors and hedge funds own 65.32% of the company’s stock.

Vir Biotechnology Stock Down 1.5%

Shares of VIR stock opened at $11.60 on Wednesday. The stock has a 50-day simple moving average of $10.30 and a 200 day simple moving average of $9.75. Vir Biotechnology has a fifty-two week low of $4.82 and a fifty-two week high of $11.94. The stock has a market capitalization of $1.96 billion, a P/E ratio of -6.24 and a beta of 1.59.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.33 by $0.14. The business had revenue of $238.95 million during the quarter, compared to the consensus estimate of $135.88 million. Vir Biotechnology’s revenue was up 19582.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.80) earnings per share. On average, sell-side analysts anticipate that Vir Biotechnology will post -1.84 earnings per share for the current year.

About Vir Biotechnology

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing treatments and preventive therapies for serious infectious diseases. The company uses immunologic insights, antibody technology, cellular approaches and other scientific platforms to address diseases in which the immune system plays a central role.

Vir’s research and development programs have included therapies for chronic hepatitis B, influenza, human immunodeficiency virus (HIV) and COVID-19. Its pipeline has included investigational antibody and immunomodulatory candidates such as tobevibart and elebsiran for hepatitis B, as well as programs designed to prevent or treat other viral infections.